Regional LNG: Singapore offers $12m funding for building of LNG-fuelled vessels
Thursday, October 1 2015 - 01:30 AM WIB
As part of efforts to turn Singapore into a key LNG bunkering hub in Asia, the Port of Singapore is inviting interested companies to tap on a S$12 million fund for building LNG-fuelled vessels.
?The MPA will provide funding of up to S$2 million per vessel, capped at two successful funding applications per company,? said the Maritime and Port Authority (MPA) of Singapore in a statement Wednesday.
MPA said applications are now open and interested applicants may find the application form, together with the criteria and funding guidelines at the following link: Co-funding Grant Application Form for LNG Fuelled Vessels
?Companies must be incorporated in Singapore, and the funded vessels must be flagged under the Singapore Registry or licensed for activity in Port of Singapore for a period of at least five years,? the statement said.
MPA has been collaborating closely with partner agencies, industry stakeholders and technical experts, to develop LNG bunkering standards, procedures and infrastructures. On July 28, 2015, MPA announced its Request for Proposal (RFP) for interested parties to apply for the LNG bunker supplier license that would allow the licensee to supply LNG bunkers to vessels in the Port of Singapore.
In 2014, Singapore's bunker industry recorded more than 42 million tons in bunkers sales volumes, maintaining her position as the world's top bunkering port.
Editing by Reiner Simanjuntak